Xunkai Gong Sells 28,050 Shares of AvePoint (NASDAQ:AVPT) Stock

AvePoint, Inc. (NASDAQ:AVPT) Chairman Xunkai Gong sold 28,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $14.84, for a total value of $416,262.00. Following the completion of the sale, the chairman owned 15,160,668 shares in the company, valued at $224,984,313.12. The trade was a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Xunkai Gong also recently made the following trade(s):

• On Monday, September 29th, Xunkai Gong sold 31,950 shares of AvePoint stock. The shares were sold at an average price of $15.34, for a total value of $490,113.00.
• On Thursday, September 18th, Xunkai Gong sold 2,068,966 shares of AvePoint stock. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86.

AvePoint Trading Up 1.7%

NASDAQ AVPT opened at $15.11 on Friday. AvePoint, Inc. has a 12 month low of $11.56 and a 12 month high of $20.25. The stock’s fifty day moving average price is $16.00 and its 200-day moving average price is $16.87. The stock has a market cap of $3.20 billion, a P/E ratio of -302.14 and a beta of 1.41.

Analysts Set New Price Targets

A number of research firms have weighed in on AVPT. B. Riley initiated coverage on shares of AvePoint in a research note on Tuesday, August 26th. They set a “buy” rating and a $25.00 price objective for the company. Citigroup reduced their price target on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AvePoint in a research report on Saturday, September 27th. DA Davidson assumed coverage on AvePoint in a report on Monday, September 22nd. They issued a “buy” rating and a $20.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on AvePoint in a research note on Monday, July 21st. They issued a “buy” rating and a $22.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AvePoint presently has an average rating of “Moderate Buy” and an average price target of $20.67.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in AvePoint by 5.9% in the 1st quarter. Principal Financial Group Inc. now owns 78,396 shares of the company’s stock worth $1,132,000 after acquiring an additional 4,348 shares in the last quarter. Cerity Partners LLC boosted its position in shares of AvePoint by 70.1% in the first quarter. Cerity Partners LLC now owns 70,454 shares of the company’s stock worth $1,017,000 after purchasing an additional 29,034 shares during the period. EFG Asset Management North America Corp. purchased a new stake in shares of AvePoint in the first quarter worth $1,000,000. Petrus Trust Company LTA raised its position in shares of AvePoint by 106.1% during the 1st quarter. Petrus Trust Company LTA now owns 34,864 shares of the company’s stock valued at $503,000 after purchasing an additional 17,945 shares during the period. Finally, Pinnacle Wealth Management LLC purchased a new position in shares of AvePoint during the 1st quarter valued at $609,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.